Tokyo's core consumer prices climb at fastest pace in over 40 years

ANKARA

Core consumer prices in Tokyo rose 4% year-on-year in December, the fastest pace in over four decades, according to official data released on Tuesday.

The figure, up from 3.6% in November, exceeded the market forecast of a 3.8% hike.

Tokyo’s core consumer price index, excluding fresh food, stood above the Bank of Japan’s target of 2% for the seventh straight month.

In 2022, core consumer inflation accelerated 2.2% on an annual basis.

The consumer price index in Tokyo, excluding fresh food and energy prices, increased 0.2% month-on-month in December, according to separate data from Japan’s Internal Affairs and Communications Ministry. ​​​​​​​​​​​​​​